My daily driver late 235 with hydraulic lifters got a head rebuild 3 years ago. I replaced all the lifters and adjusted them only 1/8 turn (or less) after they stop clicking, because of prolonged high rpm freeway driving. Otherwise I would adjust them to 1/4-1/2 turn max.
I like to adjust them hot while running at low idle with a few seconds of higher rpm after adjusting and recheck. If done right each pushrod rotates freely - too tight and it stops spinning.
Here is a good link with detailed explaination ...
valve adjustment procedure
